Mr. James Roaf (Assistant Director, Fiscal Affairs Department, IMF)
Mr. Simon Black (Economist – Climate Mitigation, Fiscal Affairs Department, IMF)
Government officials from Ministry of Finance or equivalent agencies, revenue administrations and officials interested in climate change mitigation policy.
This session will discuss the IMF’s proposal for an international carbon price floor among large emitting countries. The window of opportunity for achieving global climate stability is closing rapidly. In order to limit global warming to ‘well below’ 2C or 1.5C above pre-industrial levels global emissions need to be slashed by one quarter to one half in under a decade. How? First, we need to increase country ambition to 2030. The Paris Agreement’s universal country participation is critical for its legitimacy. But ratcheting up ambition among 194 countries is proving challenging as countries may fear others will fail to honor their mitigation pledges and ‘free-ride’. Second, critically, this ambition needs to be matched by credible policy action. Commitment is an important first step, but to avert climate disaster the change we need is a change in policies. So to support and reinforce the Paris Agreement we propose an ICPF arrangement. This webinar provides an overview of the proposal, considers design issues, compares it with alternative global regimes, and quantifies its impacts.
To register for this webinar, please complete the online form here by June 8, 2021, 12 Noon (Singapore Time). Only official email addresses are accepted.